Monthly Archives: June 2010

//June

Real Estate Fair Value Accounting

I came to know REIT sector in US will see a drastic change after adoptiong IFRS. How the Arms Length Price in Fair Value accounting is computed? Do we need depend on any excel templates for this? please suggest !

By |June 22nd, 2010|FAIR VALUE|2 Comments

Defining SME

Anybody to tell me; there are separate IFRSs for SMEs. Is there any predefined criterion for an organization to be SME? what is the differentiating line to be SME and to be otherwise? is the criterion in terms of; a. capital invested? b. revenue generation? c. human resource employed? or any thing else?

By |June 10th, 2010|IFRS FOR SME|6 Comments

Revision of Software useful file

What could be evidence for justifying software life revision from 5 years to 3 years. So that prospective application of change.

By |June 9th, 2010|IAS 16, IAS 8|1 Comment

By: hbjaipur

Amount incurred on CWIP as per payment certificates should be accounted as Capital work in progress as well as liability as accruals. These are not to be considered as off balance sheet item. Thanks

By |June 8th, 2010|DOCUMENTS|Comments Off on By: hbjaipur

Is offsetting of positive goodwill against negative goodwill allowed in consolidation?

Hi everyone, In consolidation, are we allowed to offset negative goodwill against postive goodwill? Thanks for your help.

By |June 8th, 2010|CONSOLIDATION|3 Comments

AASB 116 compared to AASB 140

If a company has the ability to choose between accounting for property under AASB 116 Property Plant and Equipment and AASB 140 Investment Property, in which circumstances (if any) do you believe the company would favour using AASB 116 over AASB 140 (or vice versa). Why?

By |June 5th, 2010|OTHER GAAP|21 Comments

Accounting Entries for Forward Contract

What entry to be passed for profit or loss on forward contract at the inception date of forward contract and is there requirement of any of accounting entry as on balance sheet date just journal entries.

By |June 2nd, 2010|FINANCIAL INSTRUMENTS|2 Comments